Direct: (818) 435-6560 | tgrey@equitysmartloans.com

Blog

06
Dec
By Todd Grey
Mortgage Rates, ,

Why Refinancing Your Mortgage Before the Year Ends Is a Great Option

As the year comes to a close, it’s the perfect time to consider refinancing your mortgage. Whether you’ve been thinking about lowering your monthly payment, securing a better interest rate, or tapping into your home’s equity, refinancing can offer many benefits. However, the timing can make all the difference. Here's why refinancing before the year ends might be a great option for you. 1. Lock in Lower Interest Rates Interest rates fluctuate throughout the year, and while it's hard to predict exactly when the best time to refinance will be, rates tend to dip during the fall and winter months.…
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05
Dec
By Todd Grey
Home Buyer Tips, ,

The Role of the Appraisal Contingency in Real Estate Contracts

When you're buying a home, one important component of the real estate contract is the appraisal contingency. This clause protects the buyer in case the property’s appraisal comes in lower than the agreed-upon sale price. While it’s a common part of many real estate transactions, it’s often not fully understood. Here's why it’s so important and how it can impact your purchase. What is an Appraisal Contingency? An appraisal contingency is a condition in the purchase agreement that allows the buyer to back out or renegotiate the deal if the property appraises for less than the offer price. Lenders require…
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04
Dec
By Todd Grey
Mortagage Tips, ,

Mortgage Assistance Programs and Government and Nonprofit Options

Purchasing a home is a significant financial milestone, but for many potential buyers, the upfront costs and down payment can be a barrier. Fortunately, there are a variety of mortgage assistance programs available through government agencies and nonprofit organizations to help low- and moderate-income homebuyers achieve their dream of homeownership. These programs can provide financial assistance, lower interest rates, or other benefits to ease the burden of purchasing a home. Here’s an overview of the key options available to you. 1. Federal Housing Administration (FHA) Loans The FHA loan program is one of the most well-known and widely used government-backed mortgage…
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03
Dec
By Todd Grey
Home Buyer Tips, ,

Steps to Prepare for Future Home Financing and Year-End Financial Checklist

As the year draws to a close, it’s the perfect time to take a step back and review your financial health, especially if you plan to purchase a home next year. Whether you’re a first-time buyer or looking to upgrade, proper preparation can make all the difference when securing a mortgage with favorable terms. Here's a comprehensive checklist to ensure you’re financially ready for home financing in the year ahead. 1. Review Your Credit Score Your credit score is one of the most important factors lenders will consider when deciding whether to approve your mortgage application and what interest rate…
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02
Dec
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – December 2nd, 2024

Leading off with the FOMC Minutes, the Federal Reserve has stated once again they will maintain a “gradual” approach to cutting interest rates, which has aligned with their goals of meeting their target 2% inflation goal. The PCE Index release numbers, the Federal Reserve’s preferred inflation indicator, have shown everything is within expectations. So while the rate cuts may be a gradual process, there is much optimism that they are coming.  Following those reports were the Personal Income Spending, GDP Estimates, and Consumer Confidence pending the holidays. Both the Persona Income and Spending have shown very strong results ahead of…
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